Joined by his son Larry in 1971, they have built a world class management consulting company based on the principles of hiring the right people and giving their dealership clients the right tools, training and support they need to succeed. King of the road “We’ve had the businesses, between my father and myself, for 62 years, and my biggest concern was to be able to perpetuate” the company’s culture, said Larry Van Tuyl. Enter your registered email address to request a password reset link. The Van Tuyl Group has offices in Arizona, Kansas, and Texas and works with nearly 80 independently operated car dealerships in … 5 overall in U.S. auto dealerships with about $9 billion in revenue and 78 independently operated locations in 10 states. Now Mr. Buffett is adding the Van Tuyl Group, founded by Cecil Van Tuyl in 1955 as a single Chevrolet dealership in Kansas City, Kan. The Van Tuyl Group enjoys excellent relations with the major auto manufacturers and delivers unusually high volumes at its 78 locations. Van Tuyl is the surname of the Dutch family from which many North American Van Tuyls, Van Tuyles, Van Tyls and Van Tyles are descended. A Division of NBCUniversal. Larry Van Tuyl along with his father, Cecil, spent decades building outstanding dealerships operated by local partners. Berkshire Hathaway Automotive is one of the largest dealership groups in America, with over US$ 9 billion in revenue and 81 independently operated dealerships with over 100 franchises in 10 US states. This family is distinct from the Van Tuyll van Serooskerken family. "It's the kind of business we can expand a lot, because there's 17,000 dealers in the country and we're buying 78 of them.". Van Tuyl ordered a larger yacht with identical styling. Ever the entrepreneurial spirit, in 2002 Vic decided to cultivate a personal vision and started his first company, carXperience, where he had the privilege to partner with automotive industry icons, Cecil and Larry Van Tuyl. Shoppers at the Toyota of Deerfield car dealership in Deerfield Beach, Fla. Art Cashin: 'Sigh of relief' rally on Wall Street. Van Tuyl also owns hundreds of acres of land in the Phoenix area. In recent years, he has shared management with Jeff Rachor, a seasoned auto retailer who will retain a financial interest in all dealerships. Larry Van Tuyl's House (Google Maps). The Van Tuyl Group fits perfectly into Berkshire Hathaway from both a financial and cultural viewpoint. BHA got off to a promising start, as that same month it acquired Frank Kent Honda of Fort Worth, Texas. He was joined in the family business by Larry in 1971, according to the company's website. The family name derives from the ancient village of Tuil (Tuÿl), in the central Netherlands.The family's earliest proven ancestor is the 14th-century knight Heer Ghijsbrecht van Tuyl of Gelre. Van Tuyl says the group founded by his late father was always on the lookout for good dealerships to buy. DLA Piper is providing legal advice to Van Tuyl Group, and Munger, Tolles & Olson LLP is providing legal advice to Berkshire Hathaway. Larry Van Tuyl along with his father, Cecil, spent decades building outstanding dealerships operated by local partners. Jeff Rachor will become CEO once Larry Van Tuyl transitions to the chairman position. Material may not be published, broadcast, rewritten or redistributed without a link to the original content. Van Tuyl has 78 independently owned dealerships, most of … Van Tuyl Group had 78 dealerships at the time the acquisition deal was announced in October. Larry Van Tuyl is part of the Van Tuyl Group, Inc. which provides management consulting services to the largest group of privately held automotive dealerships in the United States. Got a confidential news tip? All Rights Reserved. Buffett has Van Tuyl Group looking for more dealerships that Berkshire can snap up. We are very pleased to have one of the world's most respected companies, Berkshire Hathaway, assume ownership of our company with the commitment to preserving our unique culture, business model and philosophy," said Larry Van Tuyl, current Chief Executive Officer of the Van Tuyl Group. You can: Would you like us to send you price alerts? Through its wholly-owned administrator MPP, Van Tuyl Group is able to offer its auto retail customers a unique, industry-leading portfolio of proprietary vehicle service and ancillary contracts, which are insured by its two insurance underwriters, Old United Casualty Co. and Old United Life. The transaction is expected to be completed in the first quarter of 2015 and is subject to obtaining approvals from the major auto manufacturers as well as certain customary closing conditions, including various regulatory approvals. Van Tuyl Group owns 70 dealership across the country. His father started a Chevrolet dealership in Kansas City in 1955 that has grown into the largest privately owned auto dealer in the country. In addition to the announcement on CNBC, there’s also a press release about the acquisition. "We are proud of all that has been accomplished with the support of our dealer partners, our employees and the manufacturers that we represent. Larry Van Tuyl is part of the Van Tuyl Group, Inc. which provides management consulting services to the largest group of privately held automotive dealerships in the United States. Sun Belt strategy Larry Van Tuyl's 1982 move to Phoenix was serendipitous. Larry Van Tuyl will become the company’s chairman. He was joined in the family business by Larry in 1971, according to the company's website. In recent years, he has shared management with Jeff Rachor, a seasoned auto retailer who will retain a financial interest in all dealerships. Larry and Patty Van Tuyl are a billionaire couple from Arizona who made their wealth after selling their collection of car dealerships to Warren Buffet. © 2021 CNBC LLC. The group has 28 dealerships in Phoenix. Van Tuyl Group is the nation's largest privately-owned auto dealership group and fifth among all U.S. auto dealership groups with over $8 billion in revenue and 78 independently operated dealerships with over 100 franchises in 10 states, including Arizona, California, Florida, Georgia, Illinois, Indiana, Missouri, Nebraska, New Mexico and Texas. As far as the length of time this deal was in development, "it took me that long to make sure that I was personally ready," said Van Tuyl, who will stay on at the newly-branded Berkshire Automotive Group. His son, Larry Van Tuyl, ... Cecil Van Tuyl sold most of his local car dealerships, and the firm has just one in the metropolitan area, Van Chevrolet Cadillac in the Northland. Who is Larry van Tuyl? There's a huge opportunity for consolidation in auto dealerships, Van Tuyl told CNBC, while sitting next to Buffett. He is Chairman at Berkshire Hathaway Automotive. We want to hear from you. Larry Van Tuyl((913) 432-6400) is the contact person of VT Inc. “Larry Van Tuyl along with his father, Cecil, spent decades building outstanding dealerships operated by local partners. Larry Van Tuyl is President at CTVT Motors, Inc. View Larry Van Tuyl’s professional profile on Relationship Science, the database of decision makers. Van Tuyl president Jeff Rachor said the new company plans to acquire dealerships in the South and Midwest, where most of the company's current dealerships are located. In recent years, he has shared management with Jeff Rachor, a seasoned auto retailer who will retain a financial interest in all dealerships. Berkshire Hathaway's common stock is listed on the New York Stock Exchange, trading symbols BRK.A. His father started the company in the 1950s, and the family sold it … Van Tuyl operates 78 dealerships in states including Texas, Arizona, Florida and California, and sells vehicles from automakers including Toyota Motor Corp., Ford Motor Co. … Larry & Pat Van Tuyl’s agent: Kim Walker, Surterre Properties. In recent years, he has shared management with Jeff Rachor, a seasoned auto retailer who will retain a financial interest in all dealerships. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Larry van Tuyl. Larry Van Tuyl will be the subsidiary’s chairman. The health and safety of our staff, customers, and community is our top priority. Today Berkshire Hathaway Automotive says it has 81 dealerships. Berkshire HathawayMarc D. Hamburg, 402-346-1400, Terry Rooney, 212-223-0689trooney@rooneyco.com, Laura Stephens, 212-223-0651lstephens@rooneyco.com, Kate Barrette, 212-223-0561kbarrette@rooneyco.com. Residential, Homes - Celebrity - Business For Larry Van Tuyl, it only took seven years to convince one of the world's best-known investors—and himself—that it was time to sell the family business. He is worth $3.5B and the family owns several homes nearby. The Van Tuyl family has had a long history with the automotive industry, starting with Cecil Van Tuyl and a Kansas City Chevrolet dealership in 1955. When Berkshire Hathaway completed its $4.1 billion acquisition of the Van Tuyl Group in April 2015, it talked about aggressively adding to its new automotive retailing empire that was rechristened the Berkshire Hathaway Automotive Group. https://www.superyachtfan.com/yacht-vanish.html Larry van Tuyl is the owner of the luxury yacht Vanish. Glendale/Scottsdale – Four separate transactions have left four Valley automobile dealerships changing hands in the past couple of weeks. "It's something that we'll own for a hundred years," said Buffett. "It's ripe for acquisitions." But Buffett says he’ll largely leave such decisions to dealer veteran Larry Van Tuyl who sold his 79-store Van Tuyl Group to Buffett’s Berkshire Hathaway investment company. This week, Van Tuyl agreed to sell the auto group to Berkshire Hathaway, a deal that has been in the works since he first met Berkshire Chairman & CEO Warren Buffett more than seven years ago. Larry Van Tuyl is part of the Van Tuyl Group, Inc. which provides management consulting services to the largest group of privately held automotive dealerships in the United States. Larry Van Tuyl along with his father, Cecil, spent decades building outstanding dealerships operated by local partners,” said Buffett, Berkshire Hathaway’s chairman and CEO. Van Tuyl's Jeff Rachor will assume the role of CEO. Van Tuyl Group’s current CEO, Larry Van Tuyl, will become chairman of the auto unit. Warren Buffett's Berkshire Hathaway Inc wants to purchase more U.S. auto dealerships to expand the company's automotive dealer venture, Larry Van Tuyl… Van Tuyl generates more than $8 billion in sales from its 78 independently operated dealerships and 100 franchises across 10 states, including Missouri. The Van Tuyl family has spent the last 62 years snapping up stakes in auto dealerships. It belongs to Larry Van Tuyl, who ran auto dealer Van Tuyl Group. California consumers may exercise their CCPA rights here. Larry Van Tuyl along with his father, Cecil, spent decades building outstanding dealerships operated by local partners. Van Tuyl dealerships are run by managing partners who know their communities and have a vested financial ... joined Van Tuyl in 2010, sharing top management duties with CEO Larry Van Tuyl. Larry Van Tuyl, 57, joined the business at 21 and had three dealerships of his own before he turned 30. Subscribe Sign Up. "And really there was only one, and it was Berkshire Hathaway.". The Van Tuyl Group has offices in Arizona, Kansas, and Texas and works with nearly 80 independently operated car dealerships in the U.S. In an interview in 2014, Larry Van Tuyl, the then CEO of the business, ... "Running dealerships is a very good business," he stated, and there was no need to make it better. After becoming a part of the Berkshire Hathaway family of businesses, the company will be known as Berkshire Hathaway Automotive. The Van Tuyl family founded the group six decades ago, and it's now No. 'Sigh of relief ' rally on Wall Street worth of $ 2 billion subsidiary ’ s also press... Is serving as financial advisor to Van Tuyl for services or write a review the major auto manufacturers and unusually... 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